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The ESCAP Trust Fund for Tsunami, Disaster and Climate Preparedness was established in 2005, originally to support tsunami early warning through a multi-hazard approach. This followed the destructive Indian Ocean Tsunami that occurred in December 2004, which stressed the need for an effective regional disaster preparedness mechanism in the Indian Ocean and Southeast Asia.

The Fund has had considerable success in supporting the operationalization of the Indian Ocean Tsunami Warning and Mitigation System (IOTWMS). It has since continued to evolve in line with changing needs throughout the Asia-Pacific region. In 2010, it was broadened to encompass disaster and climate preparedness, and in 2015, it expanded its geographic scope to include SIDS in the Southwest Pacific.